0145 GMT - Malaysian planters are likely to see a neutral impact on earnings from the coming Budget 2025 announcement, Maybank analyst Ong Chee Ting says in a note. The government may raise the windfall profit levy threshold due to a sharp rise in the unit cost of production which may benefit planters in Malaysia, he reckons. However, a potential minimum wage increase could offset the earnings tailwinds, he says. The current MYR1,500 minimum wage, is due for review and there is speculation that Budget 2025 could announce a new minimum wage between MYR1,700 and MYR2,000, he adds. Maybank maintains a neutral rating on Southeast Asia's plantation sector, pegging SD Guthrie, Sarawak Oil Palms, TA Ann and Bumitama Agri as its top picks. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
October 14, 2024 21:45 ET (01:45 GMT)
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